The global biometric authentication and identification market size is expected to reach $ 62,850 million by 2026, up from $ 30,510 million in 2020, at a CAGR of 12.8% in 2021-2026.
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Biometric authentication is the process of comparing data about a person’s characteristics with that person’s biometric “template” to determine resemblance. The reference model is first stored in a database or a secure portable element such as a smart card. The stored data is then compared to the biometric data of the person to be authenticated. Here, it is the identity of the person that is verified.
Biometric identification consists of determining the identity of a person. The objective is to capture a biometric data of this person. It could be a photo of their face, a recording of their voice, or an image of their fingerprint. This data is then compared to the biometric data of several other people kept in a database.
Rising popularity of wearable technology, growing adoption of e-commerce services, providing second / third level security using multimodal biometric authentication systems, increasing government support through organizations such as the DHS (Homeland Security), Growing Adoption of Biometric Authentication in Banking and Healthcare Sector (E-Banking and Mobile Payments) and Increased Security and Convenience for Consumers.
Global scope of biometric authentication and identification and market size
The Biometric Authentication and Identification market is segmented by region (country), players, type and application. Players, stakeholders, and other participants of the global Biometric Authentication and Identification market will be able to gain the upper hand by using the report as a powerful resource. The segmental analysis focuses on the revenue and forecast by region (country), type and application in terms of revenue and forecast for the period 2015-2026.
Segment by Type, the Biometric Authentication and Identification market is segmented into
• Fingerprint recognition
• Recognition of palm geometry
• Iris recognition
• Recognition of the retina
• Face recognition
• Signature recognition
• Speech Recognition
by product type
Segment by Application, the Biometric Authentication and Identification market is segmented into
• Military and Defense
• Health care
• Banking and finance
• Consumer electronics
• Travel and immigration
• Utility, industrial and entertainment
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